iPhone 6: Mobile Payment Technology Can Replace Your Credit Cards

By Cody Scholberg, Epoch Times

Wouldn’t it be nice if you didn’t have to bother with paying a cashier or using a self-checkout machine in a store, as if you could just go in, get your items, walk out, and the payment took place automatically? We’re not there quite yet, but the iPhone 6 is solving part of that problem. Yes, the new iPhone 6 will be able to handle mobile payments by using an NFC chip.

NFC stands for Near Field Communication. It’s an impressive technology, and the way it works is quite technical. Basically, what it can do, is enable devices in close proximity to each other to interact with each other. For example, if your credit card information is stored on the NFC chip in your new Apple iPhone 6, any device capable of reading NFC chips will be able to charge your credit card just by you being near it.

Of course, there are many other uses to this technology that Apple is implementing in their next generation flagship smartphone. You could exchange all kinds of data with other people (assuming the appropriate software is developed for it), like contact information, files, etc. Perhaps you don’t have any cash on you, and you want to give your friend $100 from your bank account. Today, you could do a wire transfer, use Paypal, or pay your friend with a credit card if he or she has a card reader (such as Square).

All of these methods have one thing in common: they cost money. Nobody knows for sure yet whether Apple will charge money for transactions between iPhones, but many are optimistic that they will not. Even if they do, you can be sure it will be a competitive rate, and you can be doubly sure it will be very quick, simple, and easy.

Security will naturally be a concern for many people. The last thing somebody wants is a hacker stealing all of his or her credit card information. Luckily, Apple is known to have some of the best security measures in place. Even if somebody steals your phone, they won’t be able to get access to it without having your fingerprint or knowing your pass-code.